VOL. XXXIX

No. 54

7-October-1996

LEBANON

Lebanon Cannot Subsidize Petroleum Products

Following the recent increases in petroleum product prices in Lebanon, occasioned by the rise in oil prices on the international market, the Lebanese Minister of State for Financial Affairs, Mr. Fuad Siniora, has said that the government cannot reduce its tax revenue from petroleum products nor subsidize local prices. Prices were increased on 10 September and again on 17 September. The latest round...